How to Change the Policyholder on a Home Insurance Plan

Home insurance provides essential protection for homeowners, but there are situations where the policyholder may need to be changed. Whether due to a property sale, inheritance, divorce, or other life changes, updating the policyholder correctly ensures continued coverage and compliance with the insurer’s requirements. This guide will walk you through the process of changing the policyholder on a home insurance plan, outlining the necessary steps and key considerations.

When Should You Change the Policyholder?

There are several reasons why you may need to change the policyholder on a home insurance plan:

1. Property Ownership Transfer

If the home is sold, the new owner must obtain their own insurance policy. The existing policyholder should cancel their coverage or transfer it if permitted.

2. Inheritance of a Property

When a property is inherited, the new owner needs to update the insurance policy to reflect their name as the policyholder.

3. Divorce or Separation

In cases of divorce, the spouse retaining ownership of the home must update the insurance policy accordingly.

4. Death of the Policyholder

If the primary policyholder passes away, a legal representative or the new homeowner must contact the insurance provider to transfer or update the policy.

Steps to Change the Policyholder on a Home Insurance Plan

1. Review the Insurance Policy

Examine the current policy terms to understand transfer or cancellation rules. Some policies allow transfers under specific conditions, while others require cancellation and reapplication.

2. Contact the Insurance Provider

Notify the insurance company as soon as possible. Provide them with the necessary documentation related to the ownership change.

3. Submit Required Documentation

Depending on the reason for the change, you may need to provide:

Proof of homeownership transfer (deed, sales contract, inheritance documents, divorce decree, or death certificate).
A formal request to change the policyholder.
Personal identification of the new policyholder.

4. Undergo a Policy Review

The insurance company may require a reassessment of the home’s condition, coverage needs, and risk factors before issuing a new policy or modifying the existing one.